Remote Server Administrator Tools (RSAT) is not compatible with Windows 7 SP1. If you install Remote Server Administration Tools on Windows 7 SP1 slipstreamed media, you will get following error.

The update is not applicable to your computer

That’s because current RSAT version only supports Windows 7 RTM. To workaround this issue, you can Install Remote Server Administration Tools before installing Windows 7 SP1. The SP1 upgrade will update RSAT to SP1 version. The other option is wait for official release of Remote Server Administrator Tools for windows 7 SP1, which will happen this April.

Update 4/8/2011: Microsoft released Windows 7 SP1 RSAT Tools to public today. The download link is here